Ha Noi — The registration age for obligatory military service would be reduced by two years - from 18 to 25 instead of 18 to 27 - as part of proposed changes to Viet Nam’s Military Law, the National Assembly was told on Monday.

The change was forecast in a 10-year-review of the law delivered by National Defence and Security Committee Chairman Nguyen Phuc Thanh.

The changes would focus on parts of the legislation that were no longer appropriate to Viet Nam’s socio-economic conditions, he said.

HCM CITY — The joint stock Asia Commercial Bank (ACB) announced on Wednesday that it will begin its US dollar/VN Dong option service by the end of this month.

The option is a market-risk hedging instrument. ACB will offer its customers the exclusive right to buy or sell a fixed sum of the convertible currency, paying in Viet Nam Dong within a specified time at a set price. The term will range from one week to six months.

It is one of the first two banks to get permission from the State Bank to offer the service, the other being the joint stock Techcombank.

HA NOI — The Government will continue to restructure the banking system to encourage citizens to invest their savings and thereby satisfy the economy’s capital demands, according to the Ministry of Finance.

The Financial Minister Nguyen Sinh Hung said that increased revenue gained in this way will be invested in key sectors relating to fertiliser, gas and oil, and electricity.

The State Bank of Viet Nam said that credit growth this year is estimated at 22 per cent and 24 per cent, down from last year’s 25 per cent and 26 per cent.

Ha Noi — A recent resolution states the Government’s intention to give up aspects of ownership and control of several key State-owned functions like education, health care and cultural and sport activities between now and 2010.

The document functions as a review of the first and second Government resolutions (1997 and 1999), focusing on the strengths and weaknesses of the last seven years of implementing the Government policy.